Europa Oil & Gas (holdin... Share Discussion Threads

[4sta] 28/7/2017 15:49

Thanks Jusmasel99, much appreciated ( as is all the info. you put on here and over on LSE. )

[jusmasel99] 28/7/2017 15:39

4STA - We have planning permission - these agenda items are conditions that have to be met - the planning officer is recommending approval - yes - there is a chance that the committee would like some more detail or a minor thing changed but I am pretty sure they cannot reject the entire document. They could and probably should then let whatever amendments they insist on become delegated decisions by the planning officer.

But I hope they just pass the lot and let the drill be done with. It is going to be drilled - there is no question about that.

[tommy241] 28/7/2017 15:23

The trend is your friend, buy the dips :)

[4sta] 28/7/2017 14:55

Is there a chance that things could go against us on Wednesday or is it just a formality?

[dunderheed] 28/7/2017 14:46

I've been saying it a long time and all imho, What is the difference asset wise between our typical peer group (with their respective high enterprise values?). Assets seem pretty similar but market valuations quite different. Any suggestions?

[currypasty] 28/7/2017 14:35

come on Huge, lets have something, we don't like this slipping back!

[edgein] 28/7/2017 14:15

Jus,

That's a decent list alright.

Regards,
Ed.

[jusmasel99] 28/7/2017 14:05

We need some news to create momentum I am afraid. We will get some next Wednesday with the SCC committee on Holmwood, The Druid drill is nearing TD so that could come anytime and if history tells us anything, this PM should see some UKOG announcement ;-)

A simple list of what can generate news for us....

Holmwood
Druid
Drombeg
Wressle
Hardstoft
Cloughton/Maxwell
Corrib
Porcupine Basin Activity
Weald Basin Activity
Oil Price
Padraig
Val de Tarbes
Vermillion
Broughton
Mergers and Acquisitions
CPRs
Newsletter
3D Seismic evaluation
Farmouts

[fardels bear] 28/7/2017 13:55

Still a nice rising trend though...

[adnatrob] 28/7/2017 13:31

I am afraid the stock flippers (sell to buy back cheaper) killed the momentum yet again.

[currypasty] 28/7/2017 13:19

I think the tide is about to turn for us price wise today. We seem to have been hit a bit from 9.25/9.5 to todays 7.75/8.00. Perhaps some profit taking or a bit of uneasiness with ukog and amgs hitting the sector.
I would have thought punters escaping with a profit on ukog, would be happy to park some cash here and sit back and enjoy the ride

[edgein] 28/7/2017 10:02

JonnyT,

You mentioned that Druid if successful could be used as a future production well, preservation you said. Plan all along seems to be P&A of the Druid/Drombeg well regardless of outcome +ve or -ve. This well is designed to drill Drombeg, therefore to use it as a future producer it would be completed in what is effectively the intermediate casing point of an exploration well. That's far from ideal, there is no need to preserve this exploration well.

Regards,
Ed.

[ngms27] 28/7/2017 09:15

Edgein, what approach? I've not mentioned one.I've merely answered a question why they may not drill Drombeg, the answer to which is purely around ensuring they can collect a full data suite including flow tests from behind perforated casing.

[jusmasel99] 28/7/2017 09:09

AS I mentioned .. there is/was an option not to drill into Drombeg and thinking about it it may purely have been cautionary based on possible weather problems and overspend.

[edgein] 28/7/2017 09:02

Mr Pasty,

I think it was more of a case of over bought over there rather than wheels coming off at this stage. Some took a mighty risk buying at over £200m cap let alone £400m cap on a pre-tested well. But don't bury them yet, flow rates from this latest KL well may still be quite good. Then the focus will turn to Holmwood and that's where the excitement will start for us.

Regards,
Ed.

[edgein] 28/7/2017 08:55

JonnyT,

I disagree on that approach as it'll be years to development and this well is an exploration well, certainly not ideal as a production well. The agreement with CNE for this well also seems to read as drilling both from the PVR presentation. So regardless of the outcome of Druid imo Drombeg will be drilled (I'd be stunned if they choose the route you're talking about). Also the optional well would be an appraisal well of both, but potentially targeting up dip Drombeg as the current well design hits Drombeg on the North flank not central. If Druid or Drombeg or both are successful it'll take a development plan with multiple wells and they'll be designed for production (obviously if successful of course). Its likely to be a combination of deviated wells and injectors if Druid is successful and normal pressured as expected. I guess the current well could become an injector well, but you were saying chicken and egg in a recent post, lets see if they hit summit first before deciding on development route. :)

Regards,
Ed.

[currypasty] 28/7/2017 08:30

Hugh needs to jump on the UKOG bandwagon pretty sharpish before the wheels come off

[westmoreland lad] 27/7/2017 23:35

and the reason why we are all buying new prayer mats !! hip flasks and potees

[ngms27] 27/7/2017 23:21

It's all about risk profiles

[zhockey] 27/7/2017 22:19

Why? They will case Druid and perforate later. But in anycase they would flow test a separate appraisal well, not this one.

[ngms27] 27/7/2017 17:52

Thats irrelevant. If they have something very interesting at Druid they run a risk of not being able to flow test Druid if they deepen to Drombeg.

[zhockey] 27/7/2017 17:31

NGMS, why? This is an exploration not production well.

[guesswhosback] 27/7/2017 17:06

Panic setting in at UKOG. You have just got to amuse yourself with the posts over there. 600 this afternoon. Blaming market makers, each other and anything else they can get their hands on. Now they are predicting an RNS in the morning, which if its anything other than bullish (if it exists) will send them crashing down again.Its a frenzy with over 500,000,000 shares being traded daily. LOL.

[ngms27] 27/7/2017 15:30

If Druid was successful they might want to preserve what they've got and not drill Drombeg from this location.

[jusmasel99] 27/7/2017 14:36

Yes I know but there is the option not to drill into it for some reason and I wonder why they might choose not to.